News Release – Vancouver, British Columbia – June 7, 2022: Monumental Minerals Corp. (“Monumental” or the “Company”) (TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF) is pleased to announce the results from confirmation surface grab samples from the Laguna Blanca lithium brine and cesium sediment Project (“Laguna”), located within the Lithium Triangle in Chile.
During a Monumental site visit to Laguna Blanca in early April 2022 (see Monumental Minerals Press Release dated April 10, 2022), 4 surface grab sediment samples were collected close to the southwestern edge of the salar brine pool (Fig. 1).
The analytical results of the sediment samples returned values of 1160 ppm lithium, and 175 ppm cesium. These values are very similar to proximal samples collected previously by Lithium Chile. The similarity indicates consistency in lithium and cesium concentrations year-over-year and provides confidence in a 9 km square highly prospective area within the claims that are under the Option Agreement with Lithium Chile (Fig. 1).
Dr. Jamil Sader, CEO and Director comments:
“The similarity in concentrations of lithium and cesium in our grab surface sediment samples, and previous samples collected by our partner, Lithium Chile gives us confidence in a prospective footprint of 9 km square for both sediment and brine. Our plans going forward will be to conduct more detailed surface and subsurface testing to further delineate this prospective area.”
The Laguna Blanca Project is within the eastern Andean Geomorphic Belt of Chile’s Central Andean Altiplano and is located 120 km from the Salar de Atacama, the largest producing salar in the world. The felsic volcanic rocks of the Central Andean Altiplano are enriched in Li and Cs. Seasonal rain and snow melt leaches and transports Li, Cs, Ca, Na, Mg, K, and B into the enclosed Laguna Blanca salar. With no outlets, evaporation concentrates these elements within the salar brines.
Monumental Minerals Corp. has granted incentive stock options to certain of its directors and consultants to purchase up to an aggregate 80,000 common shares of the Company at a price of 45 cents per common share for a period of three years, with the options vesting immediately.
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.
Sediment samples collected by Monumental’s management were submitted to Bureau Veritas (BV), Vancouver, BC. BV is an ISO-IEC 17025 and ISO 9001 accredited geoanalytical laboratory and is independent of Monumental and the QP. A 250-gram sample pulp was pulverized to 85% passing 200 mesh, and 0.25 grams subject to multi-acid (nitric-perchloric-hydrofluoric) digestion, followed by 59-element inductively coupled plasma emission/mass spectrometry (ICP-ES/MS) analysis. For the verification samples the QP has relied on the internal quality assurance/quality control (QA/QC) measure of BV which includes the insertion of standard, blank and duplicate samples into the sample stream to confirm the accuracy of the reported results. The QP detected no significant QA/QC issues during review of the data, and is not aware of any sampling, or other factors that could materially affect the accuracy of the results.
About Monumental Minerals Corp.
Monumental Minerals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in the critical and electric metals sector. The Company’s flagship asset is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an option to acquire 100% of the 3,650-hectare project. The Company has an option to acquire a 75% interest and title to the Laguna project located in Chile.
On behalf of the Board of Directors,
/s/ “Jamil Sader”
Jamil Sader, Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, the potential plans for the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, loss of key employees, consultants, or directors, failure to maintain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.